Austal USA awarded $79.2 million for fifth T-ATS Austal USA has been awarded a $79.2 million U.S. Navy contract option for the construction of T-ATS 15, a Navajo-class Towing, Salvage, and Rescue Ship. With the award, the company is now
Hydrogen One pushboat power train passes string test The groundbreaking methanol-to-hydrogen technology to be used in Maritime Partners' Hydrogen One pushboat has completed a successful string test in Gothenburg, Sweden. In the test, all the key components of the vessel's
GAO to study to impacts of New Jersey offshore wind development According to Rep. Chris Smith (R-N.J.) the Government Accountability Office (GAO) has officially agreed to launch an investigation into the impacts of New Jersey offshore wind development on the environment, the fishing
AD Ports signs 30-year concession agreement for Congo's multipurpose terminal AD Ports Group signed a 30-year concession agreement with the government of the Republic of the Congo for managing and operating the multipurpose New East Mole Terminal in Pointe-Noire. The agreement follows the previous Head of Terms agreement signed between the two parties in March 2023. Under the terms of the new agreement, AD Ports will have the exclusive right to invest in the development, o
Boluda Towage invests in new JV to expand presence in Asia The world's largest tugboat operator Boluda Towage has decided to invest in Hongkong Salvage and Towage Services Limited (HKSTS), a new joint venture (JV) formed as a member of CK Hutchison Holdings. HKSTS' principal services include salvage and towage and marine project management business. Through this collaboration, Boluda Towage believes it will be able to expand its business portfolio into A
Dry season threatens Panama Canal The Panama Canal will implement water conservation measures during the rainy months to help recover water in all the surrounding lakes. The Canal is closely monitoring the development of weather events affecting water availability in the canal watershed, which according to forecasts, could worsen with the arrival of the El Niño phenomenon. "Current estimates indicate that the economic impact is u
DP World uses remote-controlled cranes for first time in Türkiye DP World Yarimca will be the first port in Türkiye to use remote-controlled electric cranes in its operations. According to a press statement, the change is a part of the terminal's "Zero Tolerance" safety initiative, which has resulted in a substantial drop in workplace accidents, with lost time incidents at Yarimca falling by 50% since 2018. It follows from DP World's 2022 announcement that it
DNV acquires Finnish cyber security firm Helsinki-based cyber security services company Nixu will be entirely acquired by DNV, a worldwide risk management and quality assurance provider, after a public tender offer that resulted in DNV buying more than 93% of Nixu's shares. Following a procedure to buy the remaining shares in Nixu and delist the firm from the Nasdaq Helsinki Stock Exchange, DNV will consolidate its cyber security operat
OOCL strengthens China - Indonesia network with new service Orient Overseas Container Line (OOCL) is starting new China Indonesia Service 2 (CIS2) today (20 June) to enhance its service network between the two countries. The port rotation of the new service will be Shanghai (China) - Ningbo (China) - Shekou (China) - Jakarta (Indonesia) - Surabaya (Indonesia) - Davao (Philippines) - Kaohsiung (Taiwan) - Shanghai. With the new service, OOCL aims to supple
Consortium to construct tugboat quay wall in Rotterdam After the summer, the consortium Hakkers, Van Oord and De Klerk will start construction of the tugboat quay in the Yangtzekanaal, as the contracts were signed with the Port of Rotterdam Authority yesterday, 19 June. The tugboat quay involves 500 metres of quay wall, offering twelve berths and its construction is part of the 'Widening Yangtzekanaal' programme with the completion scheduled for spri
Ports of Stockholm boosts solar electricity production Ports of Stockholm is building six new rooftop solar cell systems aiming to increase its own solar electricity production by 55%. The Swedish port has five solar cell system installations that have a total production capacity of 995 MWh/year. After the new investment decision, the number of solar cell systems will increase to eleven, with a total production capacity of 1,545 MWh/year. The new ins
Maersk proceeds with integration strategy; US freight forwarder unifying with the brand Danish shipping company Maersk continues its integration process with the US freight forwarder American Linehaul being the last firm unifying with the Maersk brand. "We have made considerable progress in integrating American Linehaul's capabilities into our transportation services offering," said Maersk adding that the unifying of the companies' websites, documentation, platforms, and facilities
Key Success Factors for Effective Logistics Practices In the current competitive business environment, the efficiency of operational processes holds utmost significance for organizations to thrive. Logistics plays a vital role in this regard, encompassing the management of timely product delivery and optimization of supply chain operations. The effectiveness of logistics directly influences customer satisfaction, cost management, and overall financi
Kerry Logistics Network launches global LCL solution Kerry Logistics Network (KLN) Limited, an Asia-based global 3PL company with a diverse business portfolio and extensive coverage in Asia, announces the launch of a global less-than-container load (LCL) programme that will offer weekly direct LCL services from key Asian gateways to multiple country destinations worldwide. KLN now serves over 2,800 corridors globally with new weekly scheduled LCL s
Navigator teams with Bumi Armada for UK CO2 shipping venture New York-listed handysize gas carrier owner and operator Navigator Holding has teamed up with Malaysian floater and vessel contractor Bumi Armada to establish a CO2 shipping and injection solutions joint venture company in the UK. Called the Bluestreak CO2 Joint Venture, the company will be equally owned by Navigator and Bumi Armada, and target emitters ...
Boluda Towage expands Asian footprint with new investment The world's largest tugboat operator Boluda Towage has made an investment in Hongkong Salvage and Towage Services Limited (HKSTS). Hongkong Salvage and Towage Services Limited is a new joint venture formed as a member of CK Hutchison Holdings. Its principal services include salvage and towage and marine project management business. Through this new collaboration, Boluda ...
J. Lauritzen orders third methanol-powered bulker Denmark's J. Lauritzen has ordered a third methanol dual fuel kamsarmax bulk carrier from Tsuneishi Shipbuilding. J. Lauritzen said that the vessel ordered would be an 81,200 dwt kamsarmax bulk carrier which would be added to its previous order of two vessels. According to the company, the vessel will be capable of operating with zero ...
Equinor fixes Norwegian floater supplies Equinor has selected the family-owned industrial group Wergeland as its preferred supplier for the fabrication of foundations and the assembly of turbines for floating offshore wind projects. The Norwegian energy giant said the agreement is aimed at ensuring industrial capacity to develop offshore wind in Norway, where activities are gathered in one location. "The agreement ...
Qatar seals second major LNG deal with China Qatar, the world's top liquefied natural gas (LNG) exporter, has landed its second major supply deal with China in less than a year. The state-controlled QatarEnergy and China National Petroleum Corporation (CNPC) have signed an agreement under which China will buy 4m metric tonnes of LNG annually from the Gulf Arab state over 27 years. ...
AD Ports signs 30-year concession for operation of Congo terminal AD Ports has signed a 30-year concession agreement with the Government of the Republic of the Congo for managing and operating the multipurpose New East Mole Terminal in Pointe-Noire.
Idwal launches vessel-level ESG report Maritime intelligence and inspection services provider Idwal has launched a pioneering vessel-level environmental, social, and governance report.
Fred Olsen 1848 floats offshore solar platform Fred Olsen 1848, a Bonheur company, has revealed a new proprietary system designed to enable near-and offshore floating solar arrays to handle wave and wind loads. The main philosophy of the design called Bolette is to allow the PV modules to move freely and independently within a pre-tensioned rope mesh, while the environmental forces are ...
Vintage tanker sales slow Sales and purchase activity in the tanker sector is slowing down with prices appearing to finally have hit the wall as the summer is warming up the northern hemisphere. Last week's sales columns have been slim compared to previous weeks despite rates still being historically high. Bokers note that overaged tankers now are difficult to ...
DNV acquires cyber security firm Nixu DNV is taking over cyber security specialist Nixu after acquiring ownership of more than 93% of the Helsinki-based firm in a public tender offer. The class society will acquire all remaining Nixu shares, valuing the deal at €98m ($107.2m) and delist the company from the Nasdaq Helsinki Stock Exchange. The move will see DNV combine its ...
UK to form maritime committee to wade through 'muddle' of policies left by the Boris Johnson administration During his three-year tenure as prime minister, Boris Johnson was regularly pictured wearing a construction hat and a high-vis jacket promising to re-energise the UK's ports and shipyards. His maritime promises were myriad, however today his ex-parliamentary colleagues have hit out at the muddled thinking behind many of the initiatives launched in recent years. The ...
'Extreme' measures under consideration at drought-hit Panama Canal New draft restrictions from the drought-stricken Panama Canal will mean that from next month the waterway will have slashed its draft by more than 2 m, with authorities warning daily transits may have to be cut by up to 25% in order to save water. Panama has been suffering one of the worst dry spells ...
Havila Shipping scores pair of PSV contract extensions Norwegian offshore vessel owner Havila Shipping has clinched contract extensions for two of its platform suppliers. The Fosnavåg-based firm, which operates 17 ships, of which 11 are PSVs, has sealed a deal with Equinor for Havila Clipper, extending the charter for the 2011-built vessel until June 2024, with options attached to December of the same ...
Nigerian government discusses new tanker taxes The Nigerian government has provided details of its backdated tax demands for tanker owners who called at the nation in the previous decade, a move that has spooked the tanker industry with many ships steering clear of the West African nation over fears of possible vessel arrests. Tanker organisation INTERTANKO sent a memo to its ...
Casualties rise as rate war intensifies on the transpacific 'battleground' Small entrants into the transpacific container tradelanes during the pandemic boom times are beating a retreat. Analysts at Linerlytica note CU Lines and Pasha are the latest carriers to exit the trade, following the earlier departure of niche carriers such as Transfar, TS Lines, SeaLead, BAL, CIMC and Jinjiang Shipping where with rates at $1,500 ...
Chantiers de l'Atlantique selected for German offshore wind project German energy firm RWE is pressing ahead with its 1.6 GW cluster of four offshore wind farms in the German North Sea having selected Atlantique Offshore Energy, the marine energy business unit of French shipbuilder Chantiers de l'Atlantique as the preferred supplier for two electrical offshore substations. The so-called Nordseecluster will be constructed in two ...
Baker Hughes inks Baleine phase 2 subsea contract Baker Hughes has been awarded a contract by Eni and its partner Petroci for the Baleine Phase 2 project in the Ivory Coast.
Agalas orders second newbuild in six months Norwegian newly formed shipowner Agalas has ordered a second newbuild vessel in just six months.
2007-built aframax sold for $39.5m European Maritime Finance partnering with Atlas Maritime has announced the sale of the 2007-built Dakota Strength aframax tanker for a very firm $39.5m delivering a return of respectively 220% and 115% for the two separate directly done investments. The identity of the buyer has not been revealed. "This investment will provide yet another successful return ...
Marine insurance is changing - ports must not leave themselves exposed Edward McNamara, CEO of Armada Risk Partners, with some useful advice for the ports community. Maritime executives will have raised a weary eyebrow last week as it was confirmed in Splash that the El Nino weather phenomenon will return this year. The Climate Prediction Center at the National Oceanic and Atmospheric Administration in the US ...
Nigeria is wrong to turn away tankers First stop seizing ships, then stop trying to rip off shipowners. It really is that simple, president Tinubu
'Long road ahead' to creating an equitable and diverse industry Report finds many of the participating companies are still in early stages of implementing the Alliance's principles, but are increasingly...
International Group pool claims slashed by over 80%, Britannia confirms UK-based marine mutual brings down combined ratio and sets course for breakeven target, despite hefty post-tax loss and decline in...
Sevastopol to get new terminal, says Russian official Operations at the port of Sevastopol are shrouded in secrecy with many vessels disabling their AIS while unloading and loading
DNV acquires security specialist to safeguard cyber-physical systems Less than six months after being hit by a ransomware attack, DNV has moved to acquire a Helsinki-listed security business...
EU to set obligations for fuel suppliers to produce renewable fuels The revision of the directive aims to send the necessary signals to companies in the whole supply chain to kick-start...
HHLA and Cosco finalise stake buy in Hamburg terminal Deal comes as the European Union is increasingly concerned about China's investments and is tightening scrutiny
VLCCs continue to shift up on tonnage tightness More Atlantic basin volumes are heading east as China refinery runs increase, but analysts question how long could this rally...
J Lauritzen adds to negligible methanol-fuel bulker orderbook Third kamsarmax newbuilding ordered at Tsuneishi Shipbuilding by Danish shipowner brings the total orderbook for methanol-fuelled bulk carriers up to...
Algoma Central orders methanol-ready medium-range tankers New order follows newbuilding contract for four methanol-ready self-unloading bulkers signed in February in joint venture with Canada Steamship Lines
Will China's record coal imports keep pace? The sluggish recovery and stockpiling fulfilment pose challenges for the second half of the year
GCMD joins Clean Energy Marine Hubs initiative The CEM Hubs initiative is set to be formally launched at the 14th Clean Energy Ministerial to be held in...
Daily Briefing Nordic market could lose ground in hull | Greece special report finds adaptable Greeks adjusting their sails again | Interviews...
Ro/ro carrier Sallaum aims to boost capacity with latest vessel order Persistent demand from existing customers and expected growth in global demand for heavier electric vehicles is spurring fresh investment in ro/ro newbuildings from Sallaum Lines.
US ag shippers look to diversify exports away from West Coast Even though port congestion has cleared and a longshore labor deal has been reached, ag shippers say intractable problems still plague their ability to move goods easily through the West Coast.
Louisiana governor aims to restore funds for new Port NOLA terminal Louisiana's state legislators made a surprise cut to funding the Port of New Orleans planned to use for the design and planning of a new $1.5 billion mega-terminal.
Doyle abruptly resigns from top job at Maryland Port Administration William Doyle's departure after three years, announced to Maryland Port Administration employees Friday according to local news reports, came less than a week after he received three traffic citations.
Green groups challenge claims of 'massive' LNG savings by lobby group A report claiming that the lifetime fuel costs of achieving net-zero emissions through LNG will be approximately half those of other fuels does not present the full picture, according to climate campaigners.
Fewer long-haul coal shipments to Asia hurt capesize bulkers, Braemar says Indonesia has become Vietnam's top source of the commodity, according to broker
Three midsize bulkers secure multimonth charters as period rates slip Diana Shipping charters ultramax DSI Altair to Western Bulk Carriers for at least 14 months
'Confident' start: Gary Vogel and Eagle Bulk ring NYSE's opening bell Long-planned ceremony follows unveiling of Greek interest in bulk owner's shares
Navigator and Bumi forge preliminary deal to launch UK-focused CCS venture Companies plan to build liquefied CO2 shuttle tankers and a floating storage and injection unit
'This is waste management': Keeping costs low expected to be key to success in maritime CCS market Scaling to keep shipping costs below price of carbon is key to profiting from a cargo that industries want to rid themselves of
NRP bags big return from sale of vintage container ship and heavylifter Norwegian owner and financier finds buyers for vessels built in 1998 and 2010
Tidewater mulls debt issue to bring home Solstad Offshore purchase A $5m bond private placement will finance the $577m deal alongside cash on hand and existing debt
Container shipping stocks sunk by falling volumes and elusive demand Persistently low freight rates sees another carrier pull out of the transpacific
Maersk's Morten Bo Christiansen on green methanol supply: 'We have mountains to climb' Struggle to procure fuel means 18 vessels may run on conventional fuels - at least initially
Investor Joakim Hannisdahl dumps entire DHT Holdings stake ahead of Opec cuts Norwegian market player makes 3% on trades but maintains positive tanker view
Investor Joakim Hannisdahl dumps entire DHT Holding stake ahead of Opec cuts Norwegian market player makes 3% on trades but maintains positive tanker view
NRP bags big return from sale of vintage container ship and heavy-lifter Norwegian owner and financier finds buyers for vessels built in 1998 and 2010
J Lauritzen adds third methanol kamsarmax newbuild backed by Cargill charter Danish owner returns to Tsuneishi in Japan for new dual-fuel bulker
BW Group-linked vessel performance firm launches DNV-verified platform Joint venture Miros Mocean says system will give unprecedented accuracy to measure energy saving device benefits and performance-linked charter party contracts
Britannia free reserves fall by $77.8m after investment losses P&I mutual sees improvement in underwriting performance and increase in tonnage
Seacor taps Hudson for $28m to pay off Cosco PSV newbuild financing US owner paying 10.25% for five-year credit facility
ZeroNorth marks third anniversary with second year of 300% growth Danish optimisation company has grown its staff roster from six to 240
Comment: Will shipping ever get to grips with its dark fleet insurers? Our industry needs to find a way to identify and clamp down on those underwriting tankers dealing in sanctioned oil
Concord, Atlas and EMF bank big return on 'record' sale of 2007-built aframax Danish financier says counter-cyclical approach paying off
DNV acquires cyber security specialist Nixu in €98m deal Combined cyber security business will employ 500 experts around Europe
New Fortress moves to sell off laid-up steam turbine FSRU and LNG carrier US-listed company has a clear-out by inviting offers on parked duo but will there be takers for trading buys?
Idwal serves up ESG on its ship inspection menu Move reflects increasing role of sustainablity in ship condition assessment
Start-up Agalas orders methanol-powered construction vessel with more to come Norwegian owner agrees second newbuilding deal as it sets up green offshore fleet
EMF, Atlas Maritime and Concord bank big return on 'record' sale of 2007-built aframax Danish financier says counter-cyclical approach paying off
Canada's Algoma confirms newbuilding order for methanol-ready product tankers The pair of 37,000-dwt tankers will be put on long-term time charters with Irving Oil from 2025
Braemar brings in Grant Foley as finance chief as Nick Stone quits Experienced UK executive replacing the man who worked closely with CEO James Gundy to reshape shipbroking company
Malaysia's MISC teams up with DNV and WinGD for ammonia dual-fuel training push Agreements target seafarer training at MISC's maritime college in readiness for ammonia-fuelled engines
Tidewater issued debt to bring home Solstad Offshore purchase A $5m bond private placement will finance the $577m deal alongside cash on hand and existing debt
CIMC SOE bags newbuilding deal for LNG dual-fuel bulk carrier quartet The deal is believed to be the first bulker contract for the shipyard
EMF and Atlas Maritime bank big return on 'record' sale of 2007-built aframax Danish financier and Greek owner say counter-cyclical approach paying off
Procopiou clan mulls adding bulkers to Chinese newbuilding spree Weeks after ordering a spate of tankers in China, major Greek shipowner lines up a huge kamsarmax newbuilding order
Peter Georgiopoulos: Frontline-Euronav wrangle 'a battle of fiefdoms' Mergers fall apart when people are threatened with losing their jobs, says US entrepreneur
Eastern Pacific expands orderbook with one more LR2 newbuilding Singapore-based company buys resale newbuilding from Zhoushan Changhong
Samudera Shipping Line forks out $59.9m for container ship feeder brace Asian buyers bite, with Japan's Imoto among the players snapping up vessels
Wisdom Marine continues order spree with deal for handysize in Japan Huge fleet growing by one more vessel in $34m transaction with Tsuneishi Shipbuilding
Container shipping divide: Cargo rates weaken, ship rents 'robust' Trans-Pacific spot shipping rates remain under pressure, slumping back again as U.S. import demand comes up short.
Pilots' mix-up of failing engine caused 2021 cargo jet crash off Hawaii A bad pilot decision at the outset of an emergency on a Transair freighter cascaded into more mistakes that resulted in a crash landing at sea off Hawaii two years ago, investigators said.
Cargo aircraft missing from Paris Air Show dealmaking The first order for cargo jets at the Paris Air Show only involved two planes and is for converted, not new production, freighters.
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